-180-
BWK as capital contributions, book entries were made reflecting
that the three loans described above were transferred to TMT.
Exh. 93, at 8-9.
From 1984 through 1989, Seabright Trust and Seabright Corp.
received additional loans from TMT. The balances on these loans
at the end of each year were as follows:
Seabright Seabright
Year Trust Corp. Exhibit
1984 $53,055 $31,440 93, at 8-9
1985 79,155 31,520 94, at 9-10
1986 100,155 36,520 95, at 40
1987 100,155 41,520 96, at 2
1988 135,155 41,520 97, at 2
1989 135,155 41,520 98, at 4
The record does not include any promissory notes issued in
connection with the loans to Seabright Trust or Seabright Corp.
There is no evidence that either Seabright Trust or Seabright
Corp. paid interest or principal on the loans from TMT. As of
December, 31, 1989, the loans had not been repaid. Exh. 98, at
4.
From 1984 through 1989, TMT made loans totaling $303,943 to
Claude Ballard and Mary Ballard. The balances due on these loans
at the end of each year were as follows:
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